Investors eye Italian group
According to reports, Italian luxury fashion and leathergoods group Mariella Burani could be in line for a takeover. Shares in the company were closed on the Milan stock exchange yesterday as speculation led to prices soaring.
It is believed that private equity firm Doughty Hanson has been in talks with the group for a month with a view to acquiring the well-known brand as well as its 53% stake in leathergoods unit Antichi Pellettieri SpA in a deal worth approximately €800 million.
Earlier this month, the company reported consolidated revenues of €546.4 million for the first nine months, up 10.5% from the €539 million posted for the same period in 2006, boosted by a strong performance in the emerging markets and at its leather goods division.
